KULR Technology Group, Inc.
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Report Link: Updated Research Report (Dated 04/05/2021)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $3.50
Time Horizon: 12 Months
Rating Established: November 30, 2020
Price When Established: $1.44
Most Recent Report: April 5, 2021
Price When Issued: $2.54
KULR Technology Group Reports Preliminary Q1 Results
On May 4, 2021, KULR Technology Group (OTC: KULR) reported preliminary results for its first quarter ended March 31, 2021.
For the quarter, the company expects to report that revenues increased over five-fold to $410,000 from $78,000 in 1Q20. Gross profit is estimated to be $140,000 compared to $52,000 in 1Q20.
Taglich Brothers’ projected 1Q21 revenue of $300,000 and gross profit of $225,000.
KULR Technology Group Introduces High Capacity Lithium Packs for Commercial Drone Market
On April 21, 2021, KULR Technology Group (OTC: KULR) announced the June 2021 launch of a new product line of high capacity lithium battery packs targeting the $127B commercial drone market (according to PricewaterhouseCoopers). The company recently secured a global commercial drone manufacturer as a customer and expects to secure additional customers in the second half of 2021.
Despite the tremendous potential that drones hold, their adoption rate is strongly affected by battery related safety risks as well as technology issues such as energy densities of batteries and most of all -- weight. KULR's energy efficient battery pack platform incorporates an inherently safe and lighter battery with advanced chemistry and thermal management technology. For drone makers, that means a drone can fly farther and longer on a single charge.
KULR Technology Group Moves to New Facility to Accommodate Continued Growth
On April 13, 2021, KULR Technology Group (OTC: KULR) announced it was expanding its manufacturing presence to a new, larger facility in San Diego, CA to accommodate continued business growth.
KULR plans to leverage its new facility to commence commercialization of its product portfolio while also establishing new internal operational efficiencies.
KULR Technology Group, Inc., headquartered in Campbell, California, develops and commercializes high-performance thermal management technologies for batteries, electronics, and other components.
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